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Indian State Retailers' April Petrol Sales Down 61%, Diesel by 57%: Sources

The state retailers' petrol and diesel sales in first half of April declined by 61% and 64%, respectively, as a nation-wide lockdown to curb the spread of the coronavirus brought economic activity to a standstill.




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Abbott's Covid-19 Lab-based Antibody Tests to be Available in India by End of May

Antibody testing is an important step to tell if someone has been previously infected. It will provide more understanding of the virus.




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Remdesivir Expected to be Available for Covid-19 Patients from Next Week: Top Company Official

Remdesivir is authorised for the treatment of hospitalised patients with severe Covid-19 disease though the optimal duration of treatment is still being studied in ongoing clinical trials.




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Average Daily Aadhaar-enabled Transactions Double; Over Rs 16K Cr Disbursed During Lockdown: FinMin

As many as 43 crore transactions leading to disbursement of Rs 16,101 crore took place during the lockdown period, the Finance Ministry said in a tweet on Monday.




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Petrol Price in Delhi Hiked by Rs 1.67 Per Litre, Diesel by Rs 7.10 as Govt Raises VAT

Petrol in Delhi now costs Rs 71.26 a litre as against Rs 69.59 previously, oil industry sources said.




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Rupee Rises 15 Paise to 75.58 Against US Dollar in Early Trade Amid Covid-19 Concerns

Forex traders said a positive start of domestic stocks supported the local unit, while sustained foreign fund outflows and concerns over coronavirus outbreak weighed on the local unit.




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US Financial Body Gives $15 Mn Loan to Indian Start-up to Expand Access to Quality Education

An American financial organisation has agreed to sanction USD 15 million loan to an Indian education start-up to expand the access to quality education by providing critical financing to schools that serve low-income students in India.




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NBFCs Ask RBI for One-time Restructuring of All Loans Till Mar 2021

Non-banking financial companies (NBFCs) have asked the Reserve Bank of India to allow them one-time restructuring of all loans till March 2021, as their borrowers are facing funding issues amid the coronavirus pandemic and the subsequent lockdown.




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State-owned Bank NPAs May Rise in FY21, Govt's Fiscal Deficit to Widen: Bank Of America

Analysts agree that Covid-19 pandemic will lead to an increase in bank's gross non-performing assets with some reports pegging the stock to double as well.




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More Fiscal Stimulus Measures Necessary in India to Fight Covid-19: S&P

In March, the government announced a Rs 1.7 lakh crore relief package focusing on providing food security to the poor and providing money in their hands to fight COVID-19.




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Govt Hikes Excise Duty on Petrol by Rs 10 a Litre, Diesel by Rs 13 a Litre; No Change in Retail Rates

These duty rate changes will come into effect from May 6.




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Home Rental Company Airbnb Lays off 1,900 People as Coronavirus Slumps Business

With millions of tourists canceling plans for vacations, work trips and family visits, Airbnb earlier this year said it was allocating $250 million to help offset losses incurred by hosts.




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Govt to Gain Over Rs 1.5 Lakh Cr this Fiscal From Record Excise Duty Hike on Petrol & Diesel

The government hiked excise duty on petrol by Rs 10 per litre and that on diesel by Rs 13 a litre to mop up gains arising from international oil prices falling to a two-decade low.




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Sensex Drops Over 200 Points in Early Trade, Nifty Below 9,200 Amid Covid-19 Concerns

ITC was the top loser in the Sensex pack, tanking nearly 6 per cent, followed by Axis Bank, Titan, Bajaj Auto, Maruti, M&M, L&T and IndusInd Bank.




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Rupee Slips 18 Paise to 75.81 Against US Dollar in Early Trade

Forex traders said the weakness in the rupee was largely due to the strengthening US dollar. Besides, rising coronavirus cases in the country also weighed on the local unit.




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Kotak Mahindra Bank Declares 10 Per cent Pay Cut for Staff with Over Rs 25 Lakh Annual Salary

The move from Kotak Mahindra comes weeks after the top management voluntarily surrendered 15 per cent of their payments for 2020-21.




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Steel Giant ArcelorMittal Reports Net Loss of $1.1 Billion in First Quarter Amid Coronavirus

The company also had to reduce production due to reduced demand.




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India to Send Investment Pitches to More Than 1,000 American Companies to Relocate From China: Report

India is prioritizing medical equipment suppliers, food processing units, textiles, leather and auto part makers among more than 550 products covered in the discussions.




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SBI Cuts Benchmark Lending Rate by 15 Basic Points, New Special Deposit Scheme For Senior Citizens

Under this new product, an additional 30 basis points premium will be payable for senior citizen's retail term deposits with "5 Years & above" tenor only.




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ArcelorMittal Reports $1.1 Billion Net Loss in Jan-Mar Quarter

The world's largest steelmaker had posted a net income of USD 0.4 billion in the year-ago quarter.




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India Exports 33.5 Lakh Tonnes Sugar so Far in 2019-20 Marketing Year

With five months still left for 2019-20 marketing year to end, the association feels the mills have the potential to fulfil their exports commitments.




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Govt Buys 216 Lakh Tonnes Wheat from Farmers at MSP so far, More Than Half of Target

The procurement of wheat and rice (second crop) during the ongoing Rabi season has picked up pace despite severe logistical constraints posed due to countrywide lockdown," the food ministry said in a statement.




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Petrol, Diesel to Cost More in Rajasthan with Third Hike in VAT Rates amid Covid-19 Lockdown

The state government on Thursday increased the VAT on petrol to 38 per cent from 36 per cent earlier while on diesel to 28 per cent from 27 per cent earlier.




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Reliance Jio Sells 2.3% Stake to US Tech Fund Vista Equity Partners for Rs 11,367 Crore

This is the third high profile-investment in Reliance Jio in as many weeks.




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Cognizant Q1 Net Falls 16.7% to $367 Million; Sees Challenging Demand Environment in 2020

Cognizant follows January-December as financial year. Its net profit was at USD 441 million in the March 2019 quarter.




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Rupee Rises 45 Paise to 75.27 Against US Dollar in Early Trade Amid Covid-19 Concerns

Forex traders said a positive start of domestic stocks and significant foreign fund inflows supported the local unit.




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Equity Mutual Fund Inflows Hit 4-month Low of Rs 6,108 Crore in April

Overall, the mutual fund industry witnessed net inflows of Rs 45,999 crore across all segments, data by the Association of Mutual Funds in India showed on Friday.




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Sensex Ends 199 Points Higher; Reliance Industries Rallies over 3 Percent

After rallying 645.13 points during the day, the 30-share index surrendered most gains to settle 199.32 points or 0.63 per cent higher at 31,642.70.




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Covid-19 Impact: Govt Hikes Market Borrowing Limit To Rs 12 Lakh Crore For Financial Year 20-21

Finance Minister Nirmala Sitharaman in her Budget for 2020-21 had pegged gross borrowing in the new financial year at Rs 7.8 lakh crore, higher than Rs 7.1 lakh crore estimated for 2019-20.




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CII Bats for Immediate Stimulus Package of Rs 15 Lakh Crore

Confederation of Indian Industry said a substantive stimulus is required from the government in the form of support to the poor and to the industry.




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Indian Economy May Contract 0.4% in FY21 on Coronavirus Pandemic, Say Two Foreign Brokerages

Japanese brokerage Nomura warned of a likely downgrade of the sovereign by global ratings agencies while American brokerage Goldman Sachs (GS) said RBI will cut rates by another 1 percentage point to arrest the economic slide.




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Bank Credit Up 6.74% to Rs 102.69 Lakh Crore, Deposits Rise 9.82%: RBI Data

In the year-ago fortnight, bank loans had stood at Rs 96.20 lakh crore and deposits at Rs 124.83 lakh crore.




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CBDT Defers Requirement of Registration of Charitable, Religious Trusts by 4 Months Till October 1

Earlier, such registrations/approvals were granted without any specific expiry period unless specifically withdrawn by concerned tax authority.




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India's Fuel Demand Dips Over 45% in April Amid Covid-19 Lockdown: Govt Report

Consumption of fuel, a proxy for oil demand, totalled 9.93 million tonnes - its lowest since 2007, government data showed on Saturday.




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ED Attaches AJL Mumbai Building Asset Worth Rs 16.38 Crore, Charges Moti Lal Vora

The Associated Journals Limited (AJL) is controlled by senior Congress leaders, including members of the Gandhi family.




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ICICI Bank Q4 Net Profit Rises 26 Per Cent to Rs 1,221 Crore

The bank had posted a net profit of Rs 969 crore in the corresponding January-March period of 2018-19.




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Govt Disburses Rs 18,253 Crore to 9.13 Crore Farmers Under PM-KISAN Scheme During Lockdown

Under the PM-KISAN (Pradhan Mantri Kisan Samman Nidhi) scheme, each farmer gets Rs 6,000 in a year in three equal installments directly in bank account.




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New Zealand Warriors Coach Urges Players to Help NRL Restart by Following Covid-19 Rules

Stephen Kearney sees this as a chance for Australia's National Rugby League to be one of the first sports in the world to emerge from Covid-19 shutdown.




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'It's the Worst Thing Ever': Ex-NHL Enforcer Georges Laraque Hospitalised with Covid-19

Georges Laraque, who is asthmatic, developed pneumonia in both lungs and was hit by nightly fevers post hospitalisation after testing positive for Covid-19.




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NFL Confirms League on Track for Full Season Starting September 10

National Football League said they are planning to announce the schedule for full regular season by late next week.




1

Swimming World Championships Moved from 2021 to 2022

FINA announced that world championships were due to be held in Fukuoka next year from July 16-August 1 but will instead take place from May 13-29 in 2022




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Novak Djokovic May Have Broken Covid-19 Lockdown Rules in Spain by Returning to Tennis Court

Novak Djokovic posted a video showing him exchanging shots with another man at clay court in the coastal city of Marbella.




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World Archery Puts All Its 13 Staff on 'Temporary Partial Unemployment'

World Archery executive board had suspended all its events till August 31, resulting in a huge losses to the federation.




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Spanish Club Says it Mistakenly Allowed Novak Djokovic to Train Against Covid-19 Rules

Novak Djokovic published a video of him training on Monday in apparent violation of Spain's current rules amid the coronavirus pandemic.




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Anti-doping Hearings to be Conducted Online Amid Covid-19 Lockdown: NADA Director General

NADA hearings have not been taking place due to the lockdown to contain the Covid-19 pandemic.




1

US Open Winner Bianca Andreescu Stays Focused on Becoming World No. 1

Bianca Andreescu's bid to return to competitive tennis suffered a further jolt when the season was halted in March due to the novel coronavirus pandemic.




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NFL Great Brett Favre to Repay $1.1 Million Paid for Speeches Never Made

The spending by the Mississippi Department of Human Services showed Brett Favre had been paid $1.1 million for three speaking engagements, none of which he participated in.




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Australian Open Organisers Admit Cancellation of Grand Slam in January Possible Due to Covid-19

Tennis Australia spoke about the uncertainty around restrictions around coronavirus and said they will have to plan for all possible scenarios.




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NFL Sets Protocols for Reopening of Team Facilities, to be Set in Place by May 15

NFL is also establishing workplace protocols that require face coverings unless a person is in a closed office.




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Taiwan Baseball Draws Foreign Fans Amid Scarce Live Sports Due to Covid-19 Shutdown

Taiwan's baseball league games are being streamed with English commentary, racking up millions of views for matches featuring cardboard cut-outs of fans and robots beating drums.